Phate Zhang

A new company called Zhongan Energy was launched today and it will build 1,000 battery swap stations with the support of Nio and two state-owned groups in Anhui province.

Nio said it and JAC, Chery will carry out deep strategic cooperation in battery standards, battery swap technology, battery swap service network construction and operation.

Nio has also signed strategic cooperation agreements with two state-owned groups in Anhui province for energy storage, charging, and battery swap system construction.

China's total vehicle sales in 2023 stood at 30,094,000 units, the first time it has surpassed the 30 million mark, with NEVs contributing 31.6 percent.

The Leapmotor C10 is available in both EREV and BEV versions, with pre-sale prices roughly half that of Li Auto's Li L7 EREV.

BYD ranks No. 1, Tesla No. 2, and Nio No. 9 in terms of NEV market share in China in 2023.

Yangwang U7 will have more than 1,000 horsepower and will push the limits of sedan performance, Yangwang said.

Nio has no new models in the first three quarters of 2024, sales growth is likely to be low, and it may need to offer price discounts for its existing models amid stiff competition, BofA said.

In the letter, Li laid out his views on the competition in the EV industry in 2024, as well as Nio's priorities.

U Power said its UP Super Board can cut development time by at least six months, ultimately reducing the cost and time to market of EV products.